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27th April 2024
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Fall in tax revenue attributed to Cyprus property market collapse

The drop in Cyprus tax revenue collections is entirely attributable to the collapse of the property market and it raises concerns that if foreign demand fails to recover, the government will lose a significant source of revenue permanently.
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Cypriot developers must address issues to compete internationally

To compete in the international property market, Cypriot developers must address issues such as escrow deposits, Title Deeds, planning and bank guarantees.
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Cyprus Interior Minister’s Statement on Title Deeds

Effective and comprehensive measures are introduced to solve the problem of Title Deeds in Cyprus - Minister of the Interior Mr Neoclis Sylikiotis - 22nd July, 2009
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Cyprus market at risk from unsold houses

The ever increasing number of unsold apartments and houses in Cyprus is placing a heavy financial burden on the developers. As well as having to service their mortgages, developers have to pay for the maintenance and upkeep of their unsold properties.
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Cyprus property sales stage slight recovery

Figures published by the Land Registry report that the number of properties sold during June fell by 45.7%, taking the first six months decline to 58.3% compared to last year.
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Stagnant construction & property sector

Cyprus is not Europe. In many European countries the situation is bleak as activity and prices have plunged to levels that leave little room for hope.
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Property tax revenues crash

The amount of Capital Gains Tax collected, the majority of which results from the sale of property, crashed to just €15.1 million from the €90.1 million collected during the same period last year; a drop of more than €75 million
News

Supreme Court rules town planning council illegal

The Court's ruling has created chaos in the Cyprus property market causing prices to collapse in many areas.

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Established in 2004, Cyprus Property News is the Island’s leading on-line resource for overseas home buyers and property investors.

Owned, funded and operated independently, we provide the latest news and analysis of events shaping the property market and offer opinion and guidance on purchasing real estate. 

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The mission of Cyprus Property News is to provide anyone looking to buy property in Cyprus with up-to-date factual information, without the usual marketing hyperbole and exaggerated claims, to help their buying decisions and to help them avoid making costly mistakes.

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